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July 1, 2015

Infibeameyeing vertical expansion in GIFTCity

One of the major e-commerce company in India, Ahmedabad based Infibeam is eyeing for a major expansion of its operations in India. According to the DRHP filed by Infibeam with SEBI, for it to proceed with an IPO and become the first e-commerce company to be listed in Indian bourses, the company has disclosed that it proposes to purchase an area of 4.5 lakh sqft spread across the 17 floors including ground floor in Gift Tower-2 at GIFT City.

Promoted by Vishal Mehta, Infibeam is dreaming of becoming one of the biggest occupier in GIFT City by taking up a big space GIFT Tower-2.This deal is expected to have an investment of around Rs. 275 crores.The company plans to move its operations from Ahmedabad to GIFT City.The Company hopes to raise Rs. 450 crores from its IPO and proposes to utilize a sum of Rs. 310 crores towards its ambitions to set up operations in GIFT City.

TheGIFT tower-1 of GIFT City has been completed in 2013 and it is having 29 floors with the height of 122mts whereas GIFT Tower-2 is nearing completion. The Company is planning to shift its head office in this tower along with data centres. Apart from this, the company intends to open75 logistic centres to help it realise its dreamsof improved consumer reachability – currently 12centres are already functioning forInfibeam.

 

 

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